Meta invests $14.3B in Scale AI to fuel a new superintelligence lab—gaining infrastructure and leadership, but raising doubts about Scale’s future.

Data-labeling firm Scale AI confirmed on Friday that it has received a "significant" investment from Meta that values the startup at $29 billion.

Scale AI plans to promote Jason Droege, the company's strategy chief, to run the artificial intelligence startup, CNBC confirmed. Meta is finalizing a $14 billion investment into Scale AI, CNBC previously reported.

Meta Platforms (NASDAQ:META) is known as a juggernaut in the fields of social media and artificial intelligence (AI). As a dividend payer, however, Meta Platforms is nowhere near juggernaut status. It’s possible that META stock could be a high-yielding dividend stock someday.

Alexandr Wang dropped out of MIT to co-found Scale and was quickly lauded as one of Silicon Valley's most promising entrepreneurs, raising funding from blue-chip venture capital firms and achieving billionaire status in his 20s.